The deal includes raises of 18% over the life of the contract – which turns into a 19.4% increase after compounding.

Starting salaries for teachers will rise from the current $45,530 to $56,709 in 2018. Top salaries will rise from the current $100,049 to $119,471.

Officials at the union and Department of Education have celebrated the contract for ushering in a new era of teamwork and mutual respect. The deal adds more parent-teacher conferences, gives schools more flexibility to experiment with ideas such as longer days if there is enough teacher buy-in, and sets aside 150 minutes a week for professional development, outreach to parents and other tasks.

Teachers have been working under an expired contract since 2009. The new one extends through October 2018 – nearly a year after Mayor Bill de Blasio would be up for re-election if he decides to run again.

The union has roughly 106,000 voting members.

The contract passed with more than 77 percent of the roughly 90,000 overall votes, according to tallies by the American Arbitration Association.